Insider Selling: Genius Sports (NYSE:GENI) CEO Sells $327,000.00 in Stock

Genius Sports Limited (NYSE:GENI) CEO Mark Locke sold 50,000 shares of the business’s stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $6.54, for a total transaction of $327,000.00. Following the transaction, the chief executive officer directly owned 19,375,216 shares in the company, valued at approximately $126,713,912.64. The trade was a 0.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Mark Locke also recently made the following trade(s):

• On Wednesday, September 16th, Mark Locke sold 272,551 shares of Genius Sports stock. The shares were sold at an average price of $6.56, for a total value of $1,787,934.56.
• On Tuesday, September 15th, Mark Locke sold 477,449 shares of Genius Sports stock. The stock was sold at an average price of $6.58, for a total transaction of $3,141,614.42.

Genius Sports Stock Performance

Shares of Genius Sports stock traded down $0.14 during trading on Thursday, hitting $6.48. 7,189,063 shares of the company’s stock traded hands, compared to its average volume of 4,524,462. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $1.60 billion, a P/E ratio of -9.54 and a beta of 1.88. The business has a 50-day simple moving average of $7.25 and a 200-day simple moving average of $5.97. Genius Sports Limited has a 1 year low of $3.83 and a 1 year high of $13.69.

Genius Sports (NYSE:GENI) last issued its earnings results on Friday, August 7th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.21). Genius Sports had a negative return on equity of 23.83% and a negative net margin of 22.99%.The company had revenue of $195.50 million during the quarter, compared to analysts’ expectations of $184.43 million. During the same quarter in the prior year, the business posted ($0.21) EPS. The company’s revenue for the quarter was up 64.7% compared to the same quarter last year. As a group, analysts forecast that Genius Sports Limited will post -0.35 EPS for the current year.

Institutional Trading of Genius Sports

Institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP lifted its stake in Genius Sports by 11.0% in the 2nd quarter. Wellington Management Group LLP now owns 1,714,882 shares of the company’s stock valued at $10,392,000 after buying an additional 169,398 shares in the last quarter. ABS Direct Equity Fund LLC purchased a new position in shares of Genius Sports in the first quarter valued at approximately $1,772,000. Renaissance Technologies LLC lifted its position in shares of Genius Sports by 277.0% in the first quarter. Renaissance Technologies LLC now owns 2,197,700 shares of the company’s stock valued at $9,736,000 after acquiring an additional 1,614,700 shares in the last quarter. IFC Advisors LLC boosted its stake in shares of Genius Sports by 23.2% in the first quarter. IFC Advisors LLC now owns 3,583,833 shares of the company’s stock worth $15,876,000 after acquiring an additional 676,034 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of Genius Sports by 65.7% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,909,945 shares of the company’s stock worth $17,321,000 after purchasing an additional 1,549,816 shares in the last quarter. Hedge funds and other institutional investors own 81.91% of the company’s stock.

Analysts Set New Price Targets

GENI has been the subject of a number of recent research reports. Roth Capital reiterated a “buy” rating and set a $12.00 price objective on shares of Genius Sports in a research note on Friday, August 7th. Guggenheim increased their target price on shares of Genius Sports from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Needham & Company LLC raised their price target on Genius Sports from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Weiss Ratings raised shares of Genius Sports from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 3rd. Finally, Benchmark restated a “buy” rating on shares of Genius Sports in a research note on Friday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Genius Sports presently has an average rating of “Moderate Buy” and a consensus price target of $11.44.

About Genius Sports

Genius Sports Limited (NYSE:GENI) is a sports technology and data company that provides official sports data, technology, and digital services to sports leagues, federations, teams, broadcasters, sportsbooks, and brands. Its platforms help clients collect, manage, distribute, and commercialize live sports information across digital channels.

The company’s offerings include live scores and statistics, data feeds for sports betting, fan-engagement tools, video streaming and content services, and advertising and sponsorship technology.